Friday, May 8, 2015
Big gains in March Home Sales
Florida and National market is heating up in 2015
SI Real Estate has been monitoring and reporting the increased activity in the housing market this year. Last month we reported about skyrocketing first quarter new home sales. This month all of the home-sales reports, including both new homes and resale homes echo those same sentiments.
Some of the markets reporting sharp rises in March 2015 home sales include the following: Minneapolis, Washington D.C., Atlanta, San Antonio, Jacksonville, Houston, and Seattle. The Real Estate market in Florida has been scorching hot, especially in Miami, Boca Raton and Tampa Bay. Our neighbors to the North (Georgia) are also seeing the same trends. Nancy See, of Atlanta Fine Homes says “I’m seeing a lot of multiple-offer scenarios when a house is well-priced… Buyers are having to act very quickly to get the house they want. It’s almost like a buying frenzy”. This type of great news has not been reported since before the recession!
Florida’s housing market in particular has been strengthening all year long. March was the best month yet. Housing data released by the Florida Realtors Association shows more closed sales, higher median sales prices, increased pending sales, and shorter selling times for houses on the market and increased seller / listing activity. Closed sales of existing single family homes statewide totaled 24,811 last month which is a 24.6% increase over March of 2014.
Our personal experience here at SI Real Estate reaffirms what we have been reading. We are doing MLS searches for clients and finding fewer home available to show simply because of how fast homes are being sold or active listings going pending. Even the rental market is on fire! Yesterday one of our agents had a list put together for a client of houses available for rent in the area. By the time they had left the office to go to view properties, 4 of them were no longer available!